Stockholm-based Everysport Group AB, divided into the Everysport Media and Every Padel businesses, has reached an agreement to acquire equestrian media company Hippson Aktiebolag. The seller of the transaction is Perlavita AB, which is owned by AltoCumulus (a family business within the Axel Johnson Group). The acquisition complements Everysport’s existing media business in horse racing and strengthens the company’s subscription-based core business.
Hippson was founded in 2005 when Antonia Ax:son Johnson, a Swedish businesswoman, billionaire and avid equestrian and breeder, and her family lacked a strong media player in equestrian sports. “Since then, the media industry has changed, and running a small media house independently has become more difficult,” said Johan Fant, CEO of Perlavita. “We are impressed by Everysport’s digital subscription journey, and bringing Hippson into the context allows scaling of Hippson’s business while giving more equestrian enthusiasts access to more and better content. This is absolutely the right next step for Hippson.”
Purchase price and key terms
The purchase price amounts to SEK 2.5 million (€212,000) and will be settled through a directed issuance of 166,666 shares in Everysport, offsetting the promissory bill. The purchase price was determined based on Hippson’s interim financial statements as of May 31, 2023, and adjusted equity of SEK 2.5 million. Everysport intends to take possession of Hippson’s shares and decide on the new issue to Perlavita on July 7, 2023.
Background and rationale
The equine industry generates sales of approximately SEK 32 billion (€2.7bn) in Sweden alone. After soccer, equestrian sports are the largest youth sport in Sweden, and interest continues into old age. There are an estimated one million horse lovers and about 360,000 horses in Sweden. The target group, more than 90 percent of whom are women, is characterized by strong loyalty and high commitment. Everysport sees opportunities to rapidly implement comprehensive digitization to improve the user experience, grow the end-customer business, and enable international expansion in line with the company’s organic growth strategy.
